UPDATE - UBS Upgraded Ventas (VTR) to Buy; Bigger & Better
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Price: $92.68 --0%
Rating Summary:
22 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS upgraded Ventas (NYSE: VTR) from Neutral to Buy. PT $56.
UBS analyst said, "The $11bn of strategic acquisitions over the last year have assisted in diversifying the operating platform and set the stage for low double-digit earnings growth beginning in 2012. We believe VTR is attractively valued at 16x forward AFFO, inline with the 5 year (ex. crash) average and offers an attractive and secure 4.5% dividend yield. Further, recent and anticipated future acquisitions are likely to support 10%+ dividend growth starting in 2012."
"We are raising our FY 11/12 FFO estimates from $3.13/$3.41 to $3.19/$3.46 to reflect the NHP merger which we now assume closes the first week of July. We continue to forecast 5%+ NOI growth for the senior housing operating portfolio."
UBS analyst said, "The $11bn of strategic acquisitions over the last year have assisted in diversifying the operating platform and set the stage for low double-digit earnings growth beginning in 2012. We believe VTR is attractively valued at 16x forward AFFO, inline with the 5 year (ex. crash) average and offers an attractive and secure 4.5% dividend yield. Further, recent and anticipated future acquisitions are likely to support 10%+ dividend growth starting in 2012."
"We are raising our FY 11/12 FFO estimates from $3.13/$3.41 to $3.19/$3.46 to reflect the NHP merger which we now assume closes the first week of July. We continue to forecast 5%+ NOI growth for the senior housing operating portfolio."
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